Brazil’s tourist economy is booming.
March 21, 2012– The fastest growing and leading travel and tourism destination in Latin America is Brazil. The country expects that tourism growth will increase by nearly 8% in 2012. The industry contributed over $79 billion to Brazil’s Gross Domestic Product in 2011.
In the region, Brazil is substantially ahead of any other country. Colombia and Chile are expected to have nearly five percent growth for 2012. Argentina is expected to grow by less than 4%.
When impacts of tourism are widen, to include induced and indirect impacts, the contribution from the tourism industry increased to over $213 billion. That equals nearly 9% of the GDP for Brazil.
Over 7.7 million jobs are supported by tourism and travel in Brazil. That amounts to close to 8% of all employment throughout the country. International tourism contributed substantially to the growth in the industry, but domestic travel has driven the sector’s growth.
Industry experts feel that Brazil has achieved a great deal of its success due to open skies agreements they have reached. However, the country still must improve certain inadequacies it has at airports and in their ports. The country will host the World Cup in 2014 and the Olympic Games in 2016 and must improve on the inadequate infrastructure before, if they expect huge crowds to come.